Not a bother...if it was...I wouldn't have started this thread. Your question seemed a little odd when you asked for 20 words or less after posting a direct link to your a Question & Answer session with someone of some candlestick patterns that was well over 100 words. Thus, I wasn't sure if you were either asking me do re-do my first post and shorten it to 20 words or less, can my replies to traders questions be done in 20 words or less or if you needed help in trying to condense that Q&A session at that website link to 20 words or less or if your were just joking around in asking me if I could do such. By the way, as you already know via reading it a few times in this thread... I don't discuss stocks for the following reasons: * I don't trade them. * I don't have any live-recordings of stocks. * I don't monitor their realtime price action in relationship to how they behave to key economic reports (I have delayed stock quotes). NihabaAshi
That website is my website. As I've been doing for ten years, I'm trying to learn and explain. For me, financial stuff is interesting ... and (it seems) to others as well: http://www.gummy-stuff.org/gummy-visitors.htm
Okay, everybody. This is going to be my feeble attempt to add a 3-min ER2 chart and a 5-min ER2 chart showing that if you miss a trade on the smaller time frame you can look to the next higher time frame you watch to see it there is an entry in that time frame. I will post the link to the 3-min and then the 5-min ER2 chart. Hope this works... Any comments on these charts are welcome. They are in GIF form so I am not too sure how well they will look here at ET. If I use PNG form they are too big for ET so I can not use Ensign charts so I will use QuoteTracker charts using Snagit for commentary. The 3-min: And the 5-min: P.S. If anyone has any idea how/where to store charts besides at this website for easier or better posting I would be obliged for any info on the subject...
Actually I just realized that these are links to another website so I guess it doesn't matter how big the size or what form the pic is in... Except that Ttrader does itself limit the size of the chart you put on their website.
Ooops... I just noticed in the 3-min chart above that I mentioned that if you didn't get in on the white bullish hammer on the DB because the next candle didn't go below the hammers shadow... I actually meant it didn't go below the body of the white hammer into the area of the shadow for an entry on the 3-min... So then (I) would look to the next higher time frame for an entry... Hope this is making sense... P.S. Nihaba, tell me (us) if this is where you like to enter, in the shadow of the previous hammer or if you have different rules on where to enter if it is a white hammer or a dark hammer. I know I have read previously that you like to get a better entry than the close of the white hammer... Myself, I like to enter as far down into the shadow as possible... be it a white or dark hammer... P.S.S. Please note the entry on the 5-min chart is a Dark Bullish Hammer Pattern... It's amazing how a 3-min invalid White Bullish Hammer Pattern can quickly change into a valid 5-min Dark Hammer Bullish Pattern... At least for me it can...
Ooops again... I went back and re-read your rules for entering a Dark Hammer Pattern Bullish Trend Reversal. No need to respond. For others, the answer is on page 5 of this thread.
Hi version77, I have relatives from out of town so I'm very slow to responding to this thread or to emails with those sharing their charts of Hammer patterns either traded or saw. Thus, I'm not trading nor watching the markets until Friday. By the way, you can upload and link to your charts at DaCharts. http://www.dacharts.com/posting.php If there's any subjectivity in my trading its in the entry area below the close of the pattern signal price (bullish white hammer or bullish dark hammer) or above the close of the pattern signal price (bearish dark inverted hammer). One pattern I may enter at a 2 tick better entry, another maybe 5 tick better entry, another 3 tick better entry... No specific area just as long as its below the close of the bullish hammers or above the close of the bearish dark inverted hammers... Regardless if by limit orders or market orders. I usually average about 3 ticks below the close of bullish patterns or above the close of bearish patterns via my entry price. Last of all...glad you've been studying the price action of Hammers because you'll notice as you did that if you get a Long Shadow on one particular interval regadless if its a dark hammer line, white hammer line or long legged doji line... (critical understanding that's needed) There could be a valid hammer pattern on different chart interval or in a different similar-like trading instrument. Therefore, good Hammer traders don't need to have a dozen monitors to be able to find valid Hammer patterns in different chart intervals or in other trading instruments. All they need to do is monitor a few trading instruments and 1-2 intervals... Knowing if something looks interesting (long shadows)...they can quickly change interval or bring up a chart of the respected sister trading instruments. One more reason why some of these good Hammer traders only trade Hammers because they are very active and can see a large area of the playing field by understanding the price action of Long Shadows. NihabaAshi
Can anyone comment on the validity of this dark hammer? In an effort to understand hammer formations, I have set up a new account under my corp to take separate trades. I still have not gone over all of the material presented by NihabaAshi and others, but I felt that this was a hammer that was confirmed by prints. My entry was at 4906.0 with a stop at 4904.5. This was just an experiment but it worked out well. I took profits on the WRB bar at 4915.0. I held the trade from 1:24:11 PM EDT to 1:43:20 PM. Would you guys consider this a valid hammer or was this a lucky trade? I'm taking a trip to visit my office in Chicago this next week and I'm taking my Nison book with me along with a printout of this thread. Hopefully, I will be able to contribute and ask more intelligent questions soon after I get through all this material and educate myself. Cheers and thanks to all for making this an interesting thread.